Kusama Price Analysis: KSM Up By 1.48%, Time to Buy?


  • KSM/USD pair trading below EMA(20).
  • KSM has its next resistance at $45.29.
  • KSM gained approximately 1.48% within the last 24 hours.
  • In terms of KSM support floor, it is now $39.92.

03 October 2022 : In this article we will walk you through Kusama price analysis for today or for next week and try to answer these frequently asked questions (FAQs), what is short term price prediction for Kusama, Is KSM a good investment? Kusama support & resistance levels etc. But before diving deep into the KSM technical analysis, let us talk about the current market conditions.

Market Analysis

Over the last twenty-four hours, there was a down fall of -1.34 percent, bringing the entire cryptocurrency market to $942,335,049,517. The total trading volume stands at $55,864,137,628. Bitcoin shares 39.85 percent of the entrie market while Ethereum has a dominance of 16.12%.
which resulted in Bitcoin's price rising to $19,591.61 level after an upward movement of 2.06%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price increase of 2.04 percent reaching to $1,322.00 during the previous 24 hours.
While publishing this blog, BNB traded at $288.00, following a price change of 1.43% within the same time frame. XRP the native coin of XRP is down by -0.28 and currently trading at $0.46. Additionally, Cardano reached $0.43 after seeing a uplift of 0.43% in value.
These events indicate that the market is heading in a downward direction for short term. At this moment, a general negative dip can being seen throughout the crypto market.

Kusama Support and Resistance

Support and resistance are important technical indicators used to identify key price levels where the trend can change direction. Support is a level at which buyers become more active and stop the coin's price from falling any further. Similartly, Resistance is a level at which sellers become move active and stop the coin's price from moving higher.
Following are the support and resistance levels of Kusama (KSM)

KSM Resistance Levels KSM Support Levels
Resistance Level 1 $45.29 Support Level 1 $39.92
Resistance Level 2 $48.00 Support Level 2 $37.26
Resistance Level 3 $50.66 Support Level 3 $34.55

Kusama Performance

The daily chart of Kusama shows that the KSM price has surged up with a 1.48% increase in past 24 hours. The price value of the Kusama (KSM) coin is standing at $42.37 with market capitalization $358,837,578.00 USD. KSM price changes 2.06% over the week while the trading volume is hovering around $18,730,365.00 USD.

Kusama Price Analysis

KSM price analysis for 03 October 2022 within a daily time frame explained below. we use Relative Strength Index(RSI), Moving Average Convergence and Divergence (MACD), Support levels, Resistance levels, different time period moving averages including Simple Moving Average (SMA) and Exponential Moving Average (EMA) to analyze the future movement of the Kusama.

Moving Averages Price Indicator
Simple Moving Average (10) 42.19 Buy
Exponential Moving Average (10) 42.16 Buy
Simple Moving Average (20) 42.54 Sell
Exponential Moving Average (20) 42.49 Sell
Simple Moving Average (50) 47.38 Sell
Exponential Moving Average (50) 47.17 Sell

The KSM/USD Moving Average Convergence and Divergence (MACD) indicator is indicating a short-term buy signal as the MACD line is moving above Signal Line Which means bulls are dominating in the market. While KSM’s Williams %R indicator is at -43.083 for the 14-day time period indicating a neutral condition.A trade signal is possible at this range. The immediate resistance level for KSM prices is at the psychological mark of $45.29. If everything goes well the coin might try to break above $48.00 mark. Conversely, the broken trend line might bring the price back to $39.92 support level. RSI implying near overbought phase while trading at 62 and is trying to break out of the neutrality zone.

Conclusions

According to our technical analysis data, the short-term forecast for the Kusama price is mostly bullish at the time of writing. The cryptocurrency Kusama seems to be on the rise again. A significant return-on-investment (ROI) is predicted if you acquired the currency some time back.